FINANCIAL AID AWARD PACKAGE 2020 - 21
School of Professional Studies (SPS)
WELCOME
FROM THE OFFICE OF FINANCIAL ASSISTANCE AT UNIVERSITY OF THE INCARNATE WORD We are excited to partner with you on this academic journey! Our office is committed to helping you understand the aid application process, assist in estimating your costs, and provide information on eligibility programs to help make your education affordable and reduce any financial barriers you may have. A successful partnership with you will ensure that your aid is delivered in a timely and that you are given every opportunity to maximize all aid options. Our goal is to help you progress on schedule in order for you to graduate with the lowest cost and smallest debt possible and before your aid eligibility expires. Additional information is online at www.uiw.edu/finaid, or you can contact us at finaid@uiwtx.edu or (210) 829-6008. We look forward to working with you!
Best Wishes, UIW Office of Financial Assistance
YOUR AWARD LETTER The award letter details the financial aid UIW is offering you this academic year, Summer 2020 to Spring 2021. Aid for students attending the UIW School of Professional Studies (SPS) is awarded per semester, which is made up of two 8-week terms. Please note that this offer could change if information on your FAFSA is corrected as part of a verification review, or if you receive additional funding, such as veteran’s assistance or outside scholarships. Review your award letter to determine if your anticipated aid will cover your courses each semester. SAMPLE AWARD LETTER Undergraduate 2020 - 2021 Awards
Summer 2020
Fall 2020
Spring 2021
TOTAL
Subsidized Loan Unsubsidized Loan
$1,166 $2,000
$1,167 $2,000
$1,167 $2,000
$3,500 $6,000
Federal Pell Grant
$3,048
$3,048
$3,048
$9,144
Total Awards
$6,214
$6,215
$6,215
$18,644
2020 - 2021 Awards
Summer 2020
Fall 2020
Spring 2021
TOTAL
Subsidized Loan Unsubsidized Loan
$1,833 $2,333
$1,833 $2,333
$1,834 $2,334
$5,500 $7,000
Total Awards
$4,166
$4,166
$4,168
$12,500
2020 - 2021 Awards
Summer 2020
Fall 2020
Spring 2021
TOTAL
Subsidized Loan Unsubsidized Loan
$1,166 $2,000
$1,167 $2,000
$1,167 $2,000
$3,500 $6,000
Total Awards
$3,166
$3,167
$3,167
$9,500
Summer 2020
Fall 2020
Spring 2021
TOTAL
Unsubsidized Loan Graduate PLUS Loan
$6,833
$6,833
$6,834
$20,500
$4,941
$4,941
$4,940
$14,822
Total Awards
$11,774
$11,774
$11,774
$35,322
Summer 2020
Fall 2020
Spring 2021
TOTAL
Graduate 2020 - 2021 Awards
(Credit Based)
Doctoral 2020 - 2021 Awards Unsubsidized Loan Graduate PLUS Loan
$6,833
$6,833
$6,834
$20,500
$5,690
$5,691
$5,691
$17,072
Total Awards
$12,523
$12,524
$12,525
$37,572
(Credit Based)
2020 - 21 TUITION AND FEES The UIW School of Professional Studies offers accelerated online, classroom and blended courses for undergraduates, graduates and doctoral students at affordable rates. The tuition and fees outlined below are effective for the 2020 - 2021 academic year. You can use this information to budget for your annual costs based on your anticipated enrollment. Examples have been provided on the next page. TUITION RATES 2020 - 2021 Costs
Undergraduate
Graduate
Doctoral
SPS - Online
$540 per credit hour 3 credit hours = $1,620
$1,000 per credit hour 3 credit hours= $3,000
$1,030 per credit hour 3 credit hours= $3,090
SPS - Classroom
$430 per credit hour 3 credit hours = $1,290
$1,000 per credit hour 3 credit hours= $3,000
$1,030 per credit hour 3 credit hours= $3,090
FEES • • • •
Records fee of $40 (one-time charge) Graduation Fee of $50 (one-time charge) Administrative fee of $50 per course withdrawal Some programs may also have fees for specific courses
FINANCIAL PLANNING
Review your award letter and verify if your aid will cover your anticipated enrollment for the aid year. The flexibility that UIW School of Professional Studies offers allows you to choose a schedule that works best for you! Examples below will help determine the number of hours your aid will cover. Example A: Online Undergraduate Student Awarded $9,500 Total Financial Aid Awards Federal Student Loans $9,500 Summer 2020 - Spring 2021 Federal Student Loans require half-time enrollment during a semester Tuition Rate per Hour $540 (Online Undergraduate) Total Courses Covered for Aid Year
Financial Aid: $9,500/Tuition Rate: $540 = 17.59 hours (completely covers 5 courses)
Example B: Classroom Undergraduate Student Awarded $12,500 Total Financial Aid Awards Summer 2020 - Spring 2021 Tuition Rate per Hour
Federal Student Loans $12,500 Federal Student Loans require half-time enrollment during a semester $430 (Classroom Undergraduate)
Total Courses Covered for Aid Year
Financial Aid: $12,500/Tuition Rate: $430 = 29.07 hours (completely covers 9 courses)
Example C: Graduate Student Awarded $20,500 Total Financial Aid Awards Federal Student Loans $20,500 Summer 2020 - Spring 2021 Federal Student Loans require half-time enrollment during a semester Tuition Rate per Hour $1,000 Total Courses Covered Financial Aid: $20,500/Tuition Rate: $1,000 = 20.50 hours for Aid Year (completely covers 6 courses) Example D: Doctoral Student Awarded $20,500 Total Financial Aid Awards Federal Student Loans $20,500 Summer 2020 - Spring 2021 Federal Student Loans require half-time enrollment during a semester Tuition Rate per Hour $1,030 Total Courses Covered Financial Aid: $20,500/Tuition Rate: $1,030 = 19.90 hours for Aid Year (completely covers 6 courses) UNDERGRADUATE STUDENTS
GRADUATE/DOCTORAL STUDENTS
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Pell Grant (if eligible) is awarded based on full-time enrollment and will be prorated if enrollment is below full-time.
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If you plan on enrolling more than half-time (3 hours), you will want to notify the Office of Financial Assistance to adjust your aid.
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Federal loans are awarded based on half-time enrollment and will have a small origination (processing) fee deducted by the Dept. of Education before the funds are applied.
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Federal loans are awarded based on half-time (3 hours) enrollment and will have a small origination (processing) fee deducted by the Dept. of Education before the funds are applied.
Students wanting to take more courses than financial aid covers will need to arrange for other options such as a payment plan, private loan, outside scholarships, or employer tuition assistance.
SCHOLARSHIPS & GRANTS Scholarships and grants are forms of gift aid, which is funding that does not need to be repaid.
SCHOLARSHIPS Private scholarships are usually awarded by private foundations, community foundations, non-profit organizations and for-profit corporations. A list of scholarship opportunities can be found at www.uiw.edu/finaid/scholarships.html GRANTS Grants are need-based funds that do not have to be repaid. The Federal Pell Grant is awarded to eligible undergraduate students based on their financial need determined by the FAFSA submission each year. The grant is awarded based on full-time enrollment and is prorated if enrollment is below full-time during the semester. Students receiving Pell Grant in the 1st term of the semester will receive additional Pell Grant for the 2nd term course(s) only upon successful completion of the 1st term course(s). Courses dropped or not passed in the 1st term will impact funds for the 2nd term. PELL GRANT PRORATION EXAMPLE Maximum Pell Grant Award Per Semester (Based on enrollment and full eligibility) 12+ Credit Hours
9-11 Credit Hours
$3,048
2,286
6-8 Credit Hours 1-5 Credit Hours $1,524
$762
FEDERAL DIRECT LOANS Federal Loans are offered to fill the gap between direct costs and gift aid. These loans are not credit-based, and the amounts are based on grade level. To be eligible for federal loans, you must be enrolled and attending at least half-time. Students will receive disbursements for federal loans when they attend at least half-time for the overall semester. Refer to the table below for half-time enrollment requirements.
Undergraduate Full-Time Half-Time
Graduate
12 undergraduate hours 6 undergraduate hours
6 graduate hours 3 graduate hours
Doctoral 6 graduate hours 3 graduate hours
UNDERGRADUATE ENROLLMENT EXAMPLES Below are enrollment examples which will help you determine if you meet the enrollment requirement for loans:
Fall I 3 hours 6 hours None 3 hours 3 hours 6 hours
Fall II 3 hours 3 hours 3 hours None 6 hours 6 hours
Half-Time? Yes, at Fall II Yes No No Yes, at Fall II Full-Time
Loan Disbursement Yes, at Fall II Yes, all funds released in Fall I No No Yes, at Fall II Yes, all funds released in Fall I
ACCEPTING YOUR FEDERAL STUDENT LOANS To accept student loans, log into www.studentaid.gov using your FSA ID to complete Loan Entrance Counseling and the Master Promissory Note (MPN). ENTRANCE COUNSELING • Click Complete Entrance Counseling • Read the information and answer the questions • Complete and submit counseling
COMPLETE MASTER PROMISSORY NOTE • Click on Complete Master Promissory Note • Start the MPN for Subsidized/Unsubsidized Loans • Review the information and then sign and submit
FEDERAL STUDENT LOAN OPTIONS Subsidized Loans are offered to undergraduate students with financial need, as determined by the FAFSA. Subsidized Loans do not accrue interest while you are attending at least half-time or during deferment periods. Repayment begins six months after graduation, or after you leave school or drop below half-time. Unsubsidized Loans are offered to undergraduate, graduate and doctoral students; there is no requirement to demonstrate financial need. Unsubsidized Loans gather interest while attending school as well as during deferment periods. Repayment begins six months after graduation, or after you leave school or drop below half-time.
OTHER OPTIONS You can choose to use one of the following options for balances not covered by financial aid: FEDERAL GRADUATE PLUS LOAN Graduate and Doctoral students can apply online at www.studentaid.gov
VETERAN EDUCATION BENEFITS Contact the UIW Veterans Affairs Office for additional information: veterans@uiwtx.edu
PRIVATE EDUCATION LOANS Private loans are offered by private lenders, such as a bank, online lender, or credit union, and there are no federal forms to complete.
MILITARY DISCOUNTS Qualified military students and dependents may be eligible for tuition discounts. Contact the Business Office for more information: busad@uiwtx.edu
MONTHLY PAYMENT PLAN Pay each semester’s balance in monthly payments through the e-Payment Center via MyWord.
EMPLOYEE TUITION ASSISTANCE Submit payment to the Business Office each semester after charges have been verified.
MAINTAINING YOUR ELIGIBILITY To receive financial aid, you must meet the Satisfactory Academic Progress (SAP) requirements. SAP standards ensure that students are successfully completing their coursework. TO MAINTAIN YOUR ELIGIBILITY FOR FINANCIAL AID, YOU MUST • Successfully complete a minimum of 75% of all attempted coursework, including transferred hours • Maintain a cumulative GPA of 2.0 for Undergraduates and 3.0 for Graduate/Doctoral • Not exceed 150% of the number of hours required for graduation DROPPING A COURSE OR WITHDRAWING FROM SCHOOL • Paying for credit not earned • Possible return of aid • Possible inability to transfer • Possible loss of aid eligibility • Takes longer to graduate
BENEFITS OF GRADUATING ON TIME • Lower overall cost • Maximize your aid • Borrow less in student loans • Advance to additional studies or employment • Start earning sooner!
WAYS TO STAY ON TRACK TO GRADUATE ON TIME • Take advantage of the different resources offered to you such as: Student Success, Counseling Services, Online Writing Center, Disability Services, etc. • Review your degree plan • Get to know your academic advisor and instructors • Budget your money and manage your time
ONLINE TOOLS Students have access to online tools through BannerWeb and the CardinalApps. These tools will allow you to manage your personal, academic, and financial information. BANNERWEB To access BannerWeb and view your missing requirements, visit www.uiw.edu/finaid/ofa.html. Enter your UIW Student ID as your User ID (Example: if your PIDM is W01234567 enter, 1234567). Use your date of birth (MMDDYY) as your initial PIN and then change your PIN after you log in. You may contact the Help Desk for assistance at helpdesk@uiwtx.edu or (210) 829-2721. 1. 2. 3. 4.
Click the Financial Aid tab to view your aid and missing requirements View your missing documents Select Summer 2020 - Spring 2021 as the aid year View items to complete your file
CARDINAL APPS Students may access the Cardinal Apps from the UIW Home Page www.uiw.edu (click on current students). Login and Password for the Cardinal Apps will be the same as your Cardinal Mail/network account. For example, if your Cardinal Mail account is jdoe2@student.uiwtx.edu you will sign in with: Username: jdoe2 Password: 1234567 (initial password will be your student ID number) Cardinal Apps will allow you to access your Cardinal Mail and the UIW E-Payment Center. Cardinal Mail
UIW E-Payment Center
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The Office of Financial Assistance will send reminders to your UIW email address Check regularly for important information
Review your current invoice Make online payments Sign up for monthly payment plan
FAQS 1. How will my aid be divided between each semester? Your financial aid is divided evenly between Summer, Fall and Spring. Review the aid you have been awarded per semester when planning your enrollment and/or reviewing your bill – you may not have enough aid available to cover the entire cost of your intended enrollment. Please contact the Office of Financial Assistance for help in determining your anticipated balance (if any) based on your intended enrollment and to discuss options. If you add hours after receiving your aid for the semester, you may not have any remaining aid eligibility. EXAMPLE: UNDERGRADUATE STUDENT REGISTERED SUMMER, FALL, SPRING
Summer 2020
Fall 2020
Spring 2021
Subsidized Loan: $3,500
Total: $1,166
Total: $1,167
Total: $1,167
Unsubsidized Loan: $6,000
Total: $2,000
Total: $2,000
Total: $2,000
Total Subsidized + Unsubsidized Loans: $9,500 Total: $3,166
Total: $3,167
Total: $3,167
2. How do I make adjustments to my loans? Submit a request online to reduce, increase, or cancel your loans: www.uiw.edu/finaid/loanchange.html 3. I am not attending the Summer semester. How will this affect my awards? Students are typically awarded for the full aid year: Summer, Fall, and Spring. If you decide not to attend Summer, please notify the Office of Financial Assistance so that we may adjust your awards. 4. I’m a graduate student needing to take undergraduate prerequisites. Will my aid cover that? Undergraduate hours do not count towards graduate half-time requirements. However, you may have options to have those hours covered, if you are taking at least 6 hours in a semester and if you have not used all of your undergraduate loan eligibility. Contact the Office of Financial Assistance immediately for options. You may also wish to speak to your academic advisor about other options to take prerequisite courses, especially if you have many to complete. 5. How do I submit missing paperwork? Documents may be submitted to the Office of Financial Assistance in any of the following ways: • File Upload: Access the file upload link online at www.uiw.edu/finaid • In Person: UIW Main Campus, Chapel Building • Fax: (210) 283-5053 • Mail: University of the Incarnate Word Office of Financial Assistance 4301 Broadway, CPO 308 San Antonio, TX 78209
OFFICE OF FINANCIAL ASSISTANCE 4301 Broadway CPO 308 San Antonio, TX 78209 www.uiw.edu/finaid Phone: (210) 829-6008 | Fax: (210) 283-5053
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